Polar Asset Management Partners Inc. Purchases New Shares in Cullen/Frost Bankers, Inc. $CFR

Polar Asset Management Partners Inc. acquired a new stake in Cullen/Frost Bankers, Inc. (NYSE:CFR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,164 shares of the bank’s stock, valued at approximately $1,107,000.

A number of other large investors have also modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Cullen/Frost Bankers during the 3rd quarter worth about $28,000. Covestor Ltd grew its position in shares of Cullen/Frost Bankers by 67.6% during the 4th quarter. Covestor Ltd now owns 248 shares of the bank’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $37,000. Global Retirement Partners LLC purchased a new position in shares of Cullen/Frost Bankers in the 2nd quarter valued at about $38,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in Cullen/Frost Bankers in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Cullen/Frost Bankers Trading Up 0.1%

CFR stock opened at $163.60 on Thursday. Cullen/Frost Bankers, Inc. has a 12-month low of $119.00 and a 12-month high of $170.80. The business’s 50-day moving average is $160.72 and its 200 day moving average is $147.15. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.05. The stock has a market cap of $10.17 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.50 and a beta of 0.53.

Cullen/Frost Bankers (NYSE:CFR) last announced its earnings results on Thursday, July 30th. The bank reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.15. The business had revenue of $576.01 million during the quarter, compared to analysts’ expectations of $589.72 million. Cullen/Frost Bankers had a return on equity of 15.55% and a net margin of 23.34%.During the same quarter in the prior year, the firm earned $2.39 earnings per share. On average, sell-side analysts anticipate that Cullen/Frost Bankers, Inc. will post 10.9 EPS for the current fiscal year.

Cullen/Frost Bankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $1.03 dividend. The ex-dividend date is Monday, August 31st. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. Cullen/Frost Bankers’s dividend payout ratio (DPR) is presently 38.94%.

Insiders Place Their Bets

In related news, EVP Carol Jean Severyn sold 837 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $148.29, for a total transaction of $124,118.73. Following the completion of the sale, the executive vice president owned 12,712 shares of the company’s stock, valued at approximately $1,885,062.48. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CFR. Zacks Research upgraded Cullen/Frost Bankers from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Morgan Stanley boosted their price objective on Cullen/Frost Bankers from $133.00 to $141.00 and gave the company an “underweight” rating in a research report on Monday, June 29th. Barclays upped their target price on Cullen/Frost Bankers from $155.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Jefferies Financial Group raised shares of Cullen/Frost Bankers from an “underperform” rating to a “hold” rating and lifted their price target for the company from $135.00 to $160.00 in a research note on Monday, July 6th. Finally, TD Cowen boosted their price target on shares of Cullen/Frost Bankers from $169.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $161.75.

Cullen/Frost Bankers Company Profile

Cullen/Frost Bankers, Inc is the holding company for Frost Bank, a Texas-chartered financial institution whose origins date back to 1868 in San Antonio. As one of the oldest banking organizations in the state, it offers a broad range of services to individuals, small and large businesses, and institutional clients. Core banking activities include commercial lending, deposit services, cash management and trade finance, while consumer products cover residential mortgages, personal lines of credit and home equity loans.

Beyond traditional banking, the company provides comprehensive treasury and equipment leasing solutions tailored to support working capital and capital expenditure requirements.